What is a Blockchain Trilemma — Biggest Problem Solved MetaTech ?

Definition — Blockchain Trilemma

Since its birth with the creation of Bitcoin back in 2009, Blockchain technology has rested on the pillars of Decentralization, security, and scalability. These Blockchain features work together to produce and sustain a viable network. But there’s a problem with these pillars.

The term Blockchain Trilemma developed by Vitalik Buterin, Proposes that one of them must be sacrificed as a Trade-off to accommodate the other two, this is known as the Blockchain Trilemma.

It means that we have to sacrifice one of these pillars of Blockchain: either security, scalability, or decentralization. The Blockchain Trilemma has been elevated to the level of the Holy Grail in recent years as it seems to be a loophole in the blockchain industry.

The blockchain trilemma refers to a problem that is related to decentralized networks that can only provide two of three elements at any given time concerning decentralization, security, and scalability. More often than not, creators are forced to sacrifice one aspect for the sake of the other two in Blockchain technology.

When Blockchain technology is coming with a new era of development and progress, decentralized technology still has some challenges which need to be corrected. Although public blockchains dominate in terms of providing the ideal client-server relationship without any third-party intervention.

But managing the worldwide distribution of nodes to achieve data consensus which is resistant to any attack is a challenge. So, sacrificing one of the three pillars is the Blockchain trilemma. For example, Bitcoin is secure and decentralized but it can only do seven transactions per second. Some other enterprise Blockchains are scalable and secure but they are not decentralized. Such blockchains which are secure and scalable but not decentralized are more prone to hacks than others.

Such a Blockchain that is providing watertight security with a widely decentralized network and manages transaction speed by being highly scalable seems to be the holygrain of blockchain technology. Layer 1 and layer 2 technology can help to reduce this Blockchain trilemma but it can cost a lot to the creators. So, before going to the solution of this Blockchain trilemma and the one behind the solution — let us explain each component of the Blockchain trilemma in detail to clear all the ambiguities

Components of Blockchain Trilemma

Decentralization:

Decentralization is the essential component of Blockchain technology and it is a pillar that is driving the whole project. The application of Decentralization can help it remove the need for central authority and maintains the ideal client-server direct relationship. There is no need for central authority as in the case of banking transactions. So there is no entity to check over the data and transactions between different nodes.

The profits will be shared directly between the client and creator without any central authority without any hold. But achieving high decentralization will decrease the overall network output. So more decentralization will eventually drop the transaction speed which is an obstacle in blockchain technology.

Blockchain Security:

When a Blockchain moves towards more centralization, it is on the edge of hackers’ attacks. In this way, hackers can hijack the whole nodal network and can use the transaction for their purpose. It will lead to manipulation of data and loss of millions of dollars in the network. So, Blockchain Security is an essential component that cannot be compromised at any level.

Scalability:

Scalability in a Blockchain refers to high Blockchain throughput and more chances of growth in a short time. It is a determiner of the speed of Blockchain. It means the speed of a Blockchain never lags in how much adoption accelerates.

Those blockchains which lag in their speed when adoption is accelerated means they are poorly scalable. So, more scalability is required to ease networking. So, most of the leading blockchains have achieved decentralization and security but they are lagging on the scalability aspect of Blockchain.

MetaTech beats the Blockchain Trilemma :

So, how we can solve this Blockchain trilemma — how a Blockchain can be highly decentralized, secure, and scalable at the same time ? Is there any Blockchain that solves this Blockchain trilemma? The answer is Yes. MetaTech comes with the solution of Blockchain Trilemma and was awarded as the Fastest Blockchain in Crypto Asia Expo in Singapore.

MetaTech is a Blockchain network that is highly scalable, secure, and decentralized at the same time. It appears to be a holygrain in the world of blockchain innovation. MetaTech has turned the tables by beating the Blockchain trilemma. Let us explain how MetaTech beats the Blockchain Trilemma.

DAG and Sirius Protocol Implementation:

The MetaTech Foundation, an organization dedicated to building the world’s first blockchain solution on a new implementation of Direct Acyclic Graphs (DAG), has solved the issue of the Blockchain Trilemma successfully.

This project aims to create infinite scalability and process hundreds of thousands of transactions per second with large numbers participating in its network all without compromising any aspect or feature currently available within current blockchains today.

The MetaTech Chain is an evolution of blockchain technology. Each validating model lining the network has access to transaction history and can independently verify if a new transaction is included. That helps to allow high scalability with low fees at nearly zero cost.

The Sirius Protocol adds another layer: transactions are verified without miner approval asynchronously through event blocks that reference previous ones creating what we call “smart chains. Thus, the increased transactional load will not lead to delayed approval or bottleneck effects.

It intends to also manage historical information independently without being assisted by external databases. Such as Oracle Database and event blocks that store transactions arising within this system include multiple data packages; one may contain Smart Contracts while others consist entirely of reputation management rewards-based activities.

The MetaTech Chain is a blockchain that has been specifically designed to improve the processing infrastructure in our society. With fast and safe methods based on DAG, independent management of historical information through data stored on an individual node’s computer memory, and Smart Contracts enabled for various industries across many different sectors; The Sirius protocol will become more expansive than ever before but MetaTech keeps everything in a perfect manner. Now one can perform the fastest transaction at a rate of 10,00,000 TPS along with security and decentralization.

Had it been adopted by other blockchains, this trilemma would never appear in the industry. MetaTech with its amazing solutions has eased the ways of doing business and ensures a high success rate in near future. It has been finally successful in beating Blockchain Trilemma by being the first ever Blockchain ensuring security, scalability, and pure decentralization by beating Blockchain Trilemma without compromising on any of the key aspects.